Flex Space with Fenced
For Sale
$1,350,000
1100 NE Old Salem Rd, Albany, OR 97321
Commercial, Albany, OR
Property Size9,840 SF
Lot Size2.72 Acres
Price / SF$137.20
Days on Market70
Property Features for 1100 NE Old Salem Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GI
View
Territorial
Standard status
Active
Size
9,840 SF
Lot size
2.72 Acres
Taxes and HOA fees
Tax Annual Amount
1972
Utilities
Heating system
Oil
Building Details
Roof type
Aluminum
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Jun 18
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 842287
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property combines a 9,328-square-foot industrial building with 512 square feet of office space on a 2.72-acre site. The building offers 14' eaves, a 12' x 14' roll-up door, an interior loading dock, rail and jib cranes, and 600 volts of three-phase power. Oil heating and an aluminum roof are also noted.
Located at 1100 NE Old Salem Rd in Albany, Oregon, the property is zoned GI, or General Industrial. City water and sewer are available, while the fenced yard provides secured outdoor space. The site also includes room to expand, adding flexibility for industrial, shop, or warehouse operations.
Located at 1100 NE Old Salem Rd in Albany, Oregon, the property is zoned GI, or General Industrial. City water and sewer are available, while the fenced yard provides secured outdoor space. The site also includes room to expand, adding flexibility for industrial, shop, or warehouse operations.
Key Highlights
- 9,328 SF industrial building plus 512 SF of office space
- 2.72‑acre site zoned GI, or General Industrial
- 600 volts of three‑phase power with city water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$120,580
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,411,600
$2.4M
Cap Rate 7%
$1,722,571
$1.7M
Cap Rate 9%
$1,339,778
$1.3M
Market Conditions
NOI Build-Up for 9,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$147.6K $15.00/SF
− Vacancy
−$5.7K −$0.58/SF
EGI
$141.9K $14.42/SF
− OpEx
−$21.3K −$2.16/SF
NOI
$120.6K $12.25/SF
Area
Linn County, OR
Vacancy
3.89%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,411,600
Cap Rate 7%
$1,722,571
Cap Rate 9%
$1,339,778
Alternative Uses
Best Use
Warehouse
$1.72M
$1.51M – $2.01M
NOI $120,580 @ 7.0% cap · market cap 8.93%
Second Best
Industrial
$1.42M
$1.24M – $1.66M
NOI $99,301 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$2.87M
$2.51M – $3.34M
NOI $200,660 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97321, OR
30,291
Population
11,790
Households
2.6
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
69.1 sq mi
ZIP Area
438
Density / Sq Mi
$95,687
Median Household Income
$45,963
Median Earnings
$1,264
Median Rent
$442,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - General Industrial zoning, fenced yard space, and city water and sewer serve the property.
Where is this flex space located?
The property is located at 1100 NE Old Salem Rd Albany, OR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9,328 SF industrial building plus 512 SF of office space; 2.72‑acre site zoned GI, or General Industrial; 600 volts of three‑phase power with city water and sewer
